SINGAPORE, May 26 (Reuters) - Canadian insurer Manulife
Financial Corp ( MFC ) has launched a 10-year Singapore
dollar-denominated subordinated Tier-2 bond with a non-call
period of five years, according to a term sheet on Tuesday.
Here are a few details:
* The initial price guidance for the offering was set at
about 3.20%, according to the term sheet.
* While the exact deal size was not disclosed, the issuance
is expected to be benchmark-sized, the sheet showed.
* The notes will be callable from June 4, 2031, subject to
regulatory approval, and are expected to receive an A- rating by
S&P Global Ratings.
* Proceeds from the bond sale will be used for general
corporate purposes, including investments in subsidiaries and
potential future redemptions of existing securities.
* DBS, HSBC ( HSBC ) and Standard Chartered ( SCBFF )
are the joint lead managers and bookrunners.